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Why Cleveland BioLabs Stock Is Trading Higher Today

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Why Cleveland BioLabs Stock Is Trading Higher Today

Cleveland BioLabs (NASDAQ: CBLI) shares are trading higher on Tuesday after the company, along with Cytocom, announced they have entered into a definitive merger agreement to combine their businesses in an all-stock transaction.

Cleveland BioLabs is a biopharmaceutical company. The company is developing novel approaches to activate the immune system and address serious medical needs. Its proprietary platform of Toll-like immune receptor activators has applications in the mitigation of radiation injury and immuno-oncology.

Cleveland BioLabs shares traded up 90.78% to $4.14 on Tuesday. The stock has a 52-week high of $5.43 and a 52-week low of 50 cents.

 

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